@melissaforpeace315 wrote:
@macuser_22 Ah! Thanks so much for the helpful info you provided! 🙂 Will the 5498 come from my old 401k custodian, or the new 401k custodian that the money was rolled over into?
Do I include this with my Statement from my current 401k custodian, that states "Contribution-Rollover" on the Statement?
Will the two documents above suffice?
My error - I was assuming (incorrectly) that you rolled it to an IRA. Only IRA's issue a 5498, 401(k) plans do not. You will just need an account statement from the new 401(k) that show the deposit.
NOTE: that many taxpayers that roll form one 401(k) to another 401(k) receive an IRS letter whether they report the 1099-R or not on their tax return because the new 401(k) trustee does not issue any 5498 or notify the IRS in any way that the money was actually deposited in the other 401(k). Recently the IRS has been asking for proof that it was actually deposited in the new 401(k).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
